Rising Fuel Prices Spark Concerns in Kerala's Trade and Industry
Successive petrol, diesel price hikes trigger concern in Kerala trade and industry circles
Image: The Hindu
Kerala's trade and industry sectors are facing challenges due to a series of fuel price increases, which threaten to raise the cost of essential commodities. The latest hike follows a significant rise in commercial cooking gas prices, impacting sectors like hospitality and construction.
- 01State-owned oil companies have raised fuel prices for the fourth time in ten days.
- 02The price of commercial cooking gas cylinders increased by ₹993 last month.
- 03Transport costs for supplies to Ernakulam's vegetable market are expected to rise.
- 04Chicken prices, which recently dropped to ₹170 per kilogram, may increase again due to rising operational costs.
- 05Some items have seen price increases of 25% to 50% due to fuel hikes.
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The recent decision by State-owned oil companies in Kerala to increase fuel prices for the fourth time in ten days has raised alarm among trade and industry stakeholders. This surge in fuel costs is anticipated to lead to higher prices for essential commodities, compounding the challenges faced by sectors such as hospitality and construction. The hospitality sector is already grappling with a significant rise in commercial cooking gas prices, which increased by ₹993 last month. Transporters supplying goods to Ernakulam's vegetable market, primarily sourced from Tamil Nadu and Karnataka, are preparing for inevitable price hikes as transport costs rise. While some vendors have long-term agreements that shield them temporarily from these increases, others are already feeling the impact. Concerns are also growing in the poultry sector, where chicken prices, which had recently stabilized at ₹170 per kilogram, may rise again if fuel prices continue to escalate. The Kerala Vyapari Vyavasayi Ekopana Samithi (KVVES) has noted that the fluctuations in fuel prices have made it challenging to establish long-term supply agreements, with some items seeing price increases of 25% to 50%.
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Rising fuel prices are likely to increase the cost of essential goods in Kerala, affecting consumers and businesses.
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